Falling Inflation Spurs Hopes of Fed Rate Cuts in 2024 As Consumer Spending Slows
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Inflation data falling short of forecasts leads to slashed expectations of Fed rate hikes in 2024 and anticipates rate cuts instead.
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U.S. inflation and producer prices show signs of deflation in October. Retail sales contract after strong September.
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Notable price shifts include falling gas prices but rising orange juice costs. Service inflation persists.
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Walmart beats earnings expectations but shares plunge on warnings of a potential consumer spending slowdown.
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Biden calls Xi a "dictator" after first in-person meeting in over a year at APEC summit. The summit covered issues like climate change and AI.